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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInterest Coverage RatioInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Medtronic (MDT) Operating Margin (2016 - 2026)

Medtronic's Operating Margin history spans 13 years, with the latest figure at 16.24% for Q1 2026.

  • For Q1 2026, Operating Margin fell 361.0% year-over-year to 16.24%; the TTM value through Jan 2026 reached 17.0%, up 21.0%, while the annual FY2025 figure was 17.76%, 186.0% up from the prior year.
  • Operating Margin for Q1 2026 was 16.24% at Medtronic, down from 18.81% in the prior quarter.
  • Across five years, Operating Margin topped out at 21.37% in Q1 2022 and bottomed at 12.26% in Q2 2024.
  • The 5-year median for Operating Margin is 18.01% (2023), against an average of 17.58%.
  • The largest annual shift saw Operating Margin surged 495bps in 2022 before it crashed -605bps in 2024.
  • A 5-year view of Operating Margin shows it stood at 18.51% in 2022, then fell by -9bps to 16.78% in 2023, then rose by 13bps to 18.98% in 2024, then dropped by -1bps to 18.81% in 2025, then dropped by -14bps to 16.24% in 2026.
  • Per Business Quant, the three most recent readings for MDT's Operating Margin are 16.24% (Q1 2026), 18.81% (Q4 2025), and 16.85% (Q3 2025).